I'd like both. There should be a nice mix of traditional and modern.
They should be able to carry off modern fashion with ease but at the same time should respect the values and tradition.
I don't see anything wrong in wearing clothes that show off the body parts, as long as it's not done in a vulgar manner. The person should have the personality to carry it off.
And why just restrict it to Bollywood actresses. I'd extend this to every women.

Vulgarity doesn't count on the type of clothing, or lack thereof. I find many of the Bollywood movies and their dance steps quite vulgar in their expressions and stances, regardless of their clothing. OTOH, there are some western movies with quite some (necessary) nudity in there, but none of it comes as vulger or indecent.

There is one thing few of us would disagree (at least the guys), a woman's body is the most beautiful thing of nature and art in this universe. If bollywood can show it in an artistic manner it is fine and good, no problem. Bindis and bikinis shouldn't be the center of controversy and if a movie tries to use bikinis just for marketing value without plot or artistic requirements, it goes way over head. Same for frivolous PILs against PDAs and 'indecency' in movies.

Not liking scantily clad women or naked women does not make you more Indian, if that is your preference don't try to justify is by nationalism, that is just one's tastes, nothing else. We should shed the hypocrisy and realise we don't get a population of 1 billion spring out of the earth.

Yamaraj said:

Vulgarity doesn't count on the type of clothing, or lack thereof. I find many of the Bollywood movies and their dance steps quite vulgar in their expressions and stances, regardless of their clothing. OTOH, there are some western movies with quite some (necessary) nudity in there, but none of it comes as vulger or indecent.